Smart Multi-Card called ‘Fuze’, which is developed by BrilliantTS (CEO Bae Jae-hoon), has collected $880,000 within just 10 days from campaigning itself to global Cloud funding platform called ‘Indiegogo’. This amount is 1700% more than its initial goal. Fuze is a Smart Card that can be used by combining many different card into single card.
While Plastc and Coin, which started funding first with a similar concept, all failed to be commercialized, Fuze has proved its functionality and drawn attention from global consumers.
Fuze is a new global brand of BrillianTS’s Smart Multi-Card called ‘bpay’ and was introduced for the first time through Indiegogo last month. Shipping fee plus regular Fuze card is $89 while shipping fee plus Fuze card with EMV chip (Integrated Circuit chip) is $129. Campaign for Fuze will end on the 22nd (U.S. time).
Although appearance of Fuze is same as any regular credit cards, it is a Smart Card that has a battery to FPCB (Flexible Printed Circuit Board) and is packed with variety of electronic parts. Its size is 8.56x5.398x0.84mm (width x length x thickness) and is almost identical to sizes of regular cards. It is made up of flexible material and is not broken or malfunctioned even when it is bent like a regular card.
It can be used by registering up to 30 cards and it supports all types of cards such as credit card, check card, gift card, ID card, and membership card. One can check name of a card and remainder of battery through E-paper display that is located on the front. It currently supports magnetic payments and its EMV chip function will be updated after BrillianTS finishes discussions with major global banks and credit card companies in the U.S. and other countries.
Fuze provides a card registering reader that is used by connecting to an earphone jack of a Smartphone and a portable battery charger. Fuze has a 13mAh battery built in and can be used 4 to 5 times and up to 30 days without extra charge. Because its portable charger, which is about a size of two fingers, has 40mAh battery built in, it can be used as a supplemental battery that can be used anywhere.
Its security is also excellent. If one loses Fuze card, he or she can erase all of data within Fuze card remotely through a Smartphone application. It also triggers an alarm when a person leaves or drops his or her Fuze card and is away from his or her Smartphone. It also a function to trace location. One can also set up a type of password called ‘Tap Code’ by using buttons on Fuze.
BrillianTS prepared its business place in Ansan and production facility to mass-produce its products. It went through marketing tests after limitedly selling 50 Fuze cards and 100 Fuze cards in South Korea and foreign countries. It is different from Plastc and Coin that started funding with marketing videos and preparatory steps with just ideas. BrillianTS has earned credibility for Fuze by introducing it to global markets.
Possibility of commercialization of Fuze was questioned during its early campaign due to precedent failures that were left by similar products. However Fuze has gained credibility as users that experienced Fuze left positive reviews and decided to promote it voluntarily and make additional purchase.
Demand for Fuze is high in the U.S. and other countries where many people carry many credit cards. BrillianTS has also set its sight on American market first and is currently discussing with American banks, credit card companies, and other related companies about making B2B alliance. It is also discussing with some South Korean financial industries about introducing Fuze in South Korea.
“Although other similar products with just ideas were introduced to Cloud funding platforms before, bpay and Fuze are the first cards that are actually mass-produced.” said CEO Bae Jae-hoon of BrillianTS. “We are going to create a new culture of using a card in global markets.”
Staff Reporter Park, Jungeun | jepark@etnews.com